Then when your promotion rate is expiring, you move the remaining balance into a lower interest option.

It's an option I am exploring, given the financing I would explore in absence of would be zero down payment loans with a fair amount of limitations.

Hi @Sharlene Morales, One option is private money or hard money lenders, they can close quickly, sometimes within days.

It has been running as a short term rental and is under water and I can not afford to hold it.Anyone willing to help me figure out options to sell or give up this property so I can start rebuilding my finances?

Eviction isn't a great option here- I think you'd have major problems in court proving which tenant caused this issue or if it were tenant caused at all.

that 1. the magnitude of a typical down payment + closing costs gets underestimated, and 2. the amount of true, net cash flow in the first few years of ownership gets overestimated (as it's typically zero, or negative.)Does that help?

Quote from @Vespa Trixie: I dont know if this will help but, I have contacted my tax guy.

I am a loan originator as well who helps people like you, so I'm happy to have a conversation about your financial strategy and qualifying for your first purchase.

Local builders and national homebuilders sometimes joint-venture on land acquisitions too, especially if the path to 300–500 homes is realistic.If financing isn’t an option and the seller wants a fast close, you’ll need a partner with both capital and development capacity, not just private lenders.

You also give up the option of selling with the owner occupied tax exempt if they are rentals before they are your primary home.